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Oct 13, 2021
10/21
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debt ceiling. >> thank you for joining the press conference for the i.m.f. world economic outlook. i'm jennifer beckman of the invitation department and i'm joined today by the imf economist. the deputy director of the research department the republics and head of the worl economic studies division. we're going to begin with brief remarks and then we will go to your questions. gita: thank you all for joining this work league on the world economic outlook. the global recovery continues but it's followed by the pandemic. fueled by the highly cranston submersible delta. we call it the global covid-19 death toll has driven close to 9 million and help concerns rebound holding back a full return to normalcy. pandemic outbreaks including global supply chains have resulted in longer than expected supply disruptions feeding and in a quality in many countries. overall, economic prospects have increased and policy trade-offs have become more complex. compared to our july focus the growth projection for this y
debt ceiling. >> thank you for joining the press conference for the i.m.f. world economic outlook. i'm jennifer beckman of the invitation department and i'm joined today by the imf economist. the deputy director of the research department the republics and head of the worl economic studies division. we're going to begin with brief remarks and then we will go to your questions. gita: thank you all for joining this work league on the world economic outlook. the global recovery continues but...
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Sep 5, 2022
09/22
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of the debt ceiling. a pattern became clear. those in power tended to vote to raise the limit. in the current era, congress has reached default. in 2011, the debt ceiling had teeth. president obama and the speaker try to have a bargain. fundamentally a gop decision to not raise taxes, it came down to the wire. vice president biden and senator mcconnell forced a deal at the last minute. our credit was downgraded for the first time in history. there was $1.2 trillion in cuts for a decade. caps raised roughly every two years by congress. the treasury relies on extraordinary measures. 2013 also had a showdown affecting markets. this past december, there was a vote before default. the debt ceiling causes brinksmanship, but there is little evidence it provides fiscal restraint. the debt keeps increasing and the debt ceiling has never been lowered. there is debt already incurred, a reactionary exercise. many claim it as prompted negotiations that prompted restraint. a fuller reading notes amending debt ceiling v
of the debt ceiling. a pattern became clear. those in power tended to vote to raise the limit. in the current era, congress has reached default. in 2011, the debt ceiling had teeth. president obama and the speaker try to have a bargain. fundamentally a gop decision to not raise taxes, it came down to the wire. vice president biden and senator mcconnell forced a deal at the last minute. our credit was downgraded for the first time in history. there was $1.2 trillion in cuts for a decade. caps...
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May 19, 2023
05/23
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the debt ceiling package? >> you have the details of that package? >> if only i did. >> again, i don't think we are here to speculate, we don't know what that package will look like. what we are saying is, the president has the authority to use the 14th amendment and he should be prepared to do that. >> president biden has casted doubt on the ability to move the 14th amendment through the legal system in time to solve this crisis, so is this a viable dilution for this crisis? >> it's the beck solution -- it's the best solution we have, it's not perfect. but throwing millions of people off of health care and creating a situation where children in this country go hungry is less perfect. >> do you hope to get more senators to sign on to this question mark >> we've got a lot in the last day and that's a lot. >> is part of the reason you are all here today is because there is still negotiations between the president and the speaker that includes some federal programs? >> are you concerned about his ability to negotiate? >> we don't know the details of wha
the debt ceiling package? >> you have the details of that package? >> if only i did. >> again, i don't think we are here to speculate, we don't know what that package will look like. what we are saying is, the president has the authority to use the 14th amendment and he should be prepared to do that. >> president biden has casted doubt on the ability to move the 14th amendment through the legal system in time to solve this crisis, so is this a viable dilution for this...
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Apr 27, 2023
04/23
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we have looked at the debt ceiling. nobody should worry about whether the debt ceiling will get lifted, we did it. the democrats did not. the president wants to make sure the debt ceiling is not lifted by this bill. there are other bills, that he says he will veto. thank you all, i hope you have a good day.
we have looked at the debt ceiling. nobody should worry about whether the debt ceiling will get lifted, we did it. the democrats did not. the president wants to make sure the debt ceiling is not lifted by this bill. there are other bills, that he says he will veto. thank you all, i hope you have a good day.
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May 9, 2023
05/23
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we need a debt ceiling. if you look at the past and the future, as i see it, it is going to break america. you cannot keep spending money you do not have. in a personal budget, you never do that. they think politics is way more important than the issue at hand. no one cares about politics, they care about being reelected. they do not give you a voice. we are looking into that, we are looking into that. i am old, those are thoughts when we grew up, we grew up under eisenhower and people that valued values, not just i have a check and can spend it. so i am hoping they will stay in washington, d.c. and fix the problem rather than taking a three-month summer and we are still spending billions and billions of dollars. >> i am from washington, d.c. and i am a lifelong democrat since john f. kennedy, and i think the republicans are all wet. they should stop playing games with the debt ceiling and putting the country and our democracy at risk. i think president biden is taking the correct steps to go forward. we hav
we need a debt ceiling. if you look at the past and the future, as i see it, it is going to break america. you cannot keep spending money you do not have. in a personal budget, you never do that. they think politics is way more important than the issue at hand. no one cares about politics, they care about being reelected. they do not give you a voice. we are looking into that, we are looking into that. i am old, those are thoughts when we grew up, we grew up under eisenhower and people that...
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Feb 4, 2014
02/14
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you devised the debt ceiling. t's a congressional creation and you understand that it's your obligation to get us out of it. that's where we are now. that puts both the executive and the legislative in a much better position going forward to have this kind of debate in other areas that are more natural. >> lawmakers use this issue to get attention. they want to raise money and there are a number of reasons you might do this in some of them do care about the issue. do you think when the public take that pays attention to this that they are more informed as a result or less informed as a result of having the debate? >> well, i would just 70% of the public is never heard of his. in any case, the debates we have had in recent years about the debt limit or about the budget, unfortunately, have not been hat informative. i do think that if there is a crisis, i am hopeful that the congress will deal with it in a rational way. the one reassuring thing is that if you look at other democracies that have had crises like swede
you devised the debt ceiling. t's a congressional creation and you understand that it's your obligation to get us out of it. that's where we are now. that puts both the executive and the legislative in a much better position going forward to have this kind of debate in other areas that are more natural. >> lawmakers use this issue to get attention. they want to raise money and there are a number of reasons you might do this in some of them do care about the issue. do you think when the...
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Apr 27, 2023
04/23
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we have looked at the debt ceiling. nobody should worry about whether the debt ceiling will get lifted, we did it. the democrats did not. the president wants to make sure the debt ceiling is not lifted by this bill. there are other bills, that he says he will veto. thank you all, i hope you have a good day. >> c-span's washington journal, every day we are taking your calls live and on the air on the news of the day and we will discuss policy issues that impact you. coming up thursday morning, california republican congressman talks about the debt limit and other congressional news of the day. we into the congress -- conversation on the debt ceiling debate with the wisconsin congresswoman. g lee talks about the south koreans president to the u.s. s nd bidens policy towards asia. watch washington journal live on c-span or c-span now our free mobile app. join the discussion with your facebook comments, text messages and tweets. [captioning performed by the national captioning institute, which is responsible for its caption
we have looked at the debt ceiling. nobody should worry about whether the debt ceiling will get lifted, we did it. the democrats did not. the president wants to make sure the debt ceiling is not lifted by this bill. there are other bills, that he says he will veto. thank you all, i hope you have a good day. >> c-span's washington journal, every day we are taking your calls live and on the air on the news of the day and we will discuss policy issues that impact you. coming up thursday...
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Jan 31, 2023
01/23
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instead, this debt ceiling restricts the treasury, if we do not, we do not lift the debt ceiling, from paying those bills. that's why for over 63 years 78 times the congress has chosen to raise the debt ceiling. why? because we don't want to put the liability of the world's economy, let alone the u.s. economy, at risk. and we don't want to be deadbeats, right? i think most americans feel they ought to pay their bills. so, my colleagues on the other side want to hold the debt ceiling hostage. leaving social security recipients and veterans potentially without their pensions or benefits. does that make any sense? so if we default on our debt, over six million jobs could be diminished. seniors may not their benefits for a period of time. costs will skyrocket. some economists indicate we could put $12 trillion at risk of american savings if it were extended in this gamesmanship, this attempt to stare each other down on whether or not we lift the debt ceiling. that makes no sense. that's risky business. so we ought to raise our debt ceiling and pay our bills. and i think there is common agr
instead, this debt ceiling restricts the treasury, if we do not, we do not lift the debt ceiling, from paying those bills. that's why for over 63 years 78 times the congress has chosen to raise the debt ceiling. why? because we don't want to put the liability of the world's economy, let alone the u.s. economy, at risk. and we don't want to be deadbeats, right? i think most americans feel they ought to pay their bills. so, my colleagues on the other side want to hold the debt ceiling hostage....
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May 9, 2023
05/23
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we need a debt ceiling. if you look at the past and the future, as i see it, it is going to break america. you cannot keep spending money you do not have. in a personal budget, you never do that. they think politics is way more important than the issue at hand. no one cares about politics, they care about being reelected. they do not give you a voice. we are looking into that, we are looking into that. i am old, those are thoughts when we grew up, we grew up under eisenhower and people that valued values, not just i have a check and can spend it. so i am hoping they will stay in washington, d.c. and fix the problem rather than taking a three-month summer and we are still spending billions and billions of dollars. >> i am from washington, d.c. and i am a lifelong democrat since john f. kennedy, and i think the republicans are all wet. they should stop playing games with the debt ceiling and putting the country and our democracy at risk. i think president biden is taking the correct steps to go forward. we hav
we need a debt ceiling. if you look at the past and the future, as i see it, it is going to break america. you cannot keep spending money you do not have. in a personal budget, you never do that. they think politics is way more important than the issue at hand. no one cares about politics, they care about being reelected. they do not give you a voice. we are looking into that, we are looking into that. i am old, those are thoughts when we grew up, we grew up under eisenhower and people that...
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Aug 13, 2019
08/19
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what does that move do for debt? aest: the debt ceiling slaps debt on spending. when you remove that, the gravy train can continue. the budget deal negotiated between representative pelosi and chuck schumer and the president and steven mnuchin, basically will add $350 to spending over the next two years. just a little history, since 2016, you have record income tax collections even after the jump tax cut. on a nominal basis, you have more money coming into the treasury than before in the country. since 2016, during trump, two years of republican controlled congress and one year with the houseats in control of appropriations, you have a 20% increase in discretionary spending. spending -- we do not have a revenue problem. we have a spending problem. talk the reversals -- you about the details. what do you recommend as the cure if the organization does sell? guest: there was a proposal in front of the senate. rand paul put forward a any cut plan. it would reduce spending each year by one penny. that was a republican controlled senate. it was voted down because of th
what does that move do for debt? aest: the debt ceiling slaps debt on spending. when you remove that, the gravy train can continue. the budget deal negotiated between representative pelosi and chuck schumer and the president and steven mnuchin, basically will add $350 to spending over the next two years. just a little history, since 2016, you have record income tax collections even after the jump tax cut. on a nominal basis, you have more money coming into the treasury than before in the...
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Oct 7, 2021
10/21
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be no purpose to the debt ceiling. it is important to note that when we talk about money printing, it is not necessarily the quantity of dollars. the way it operates now and it has been different but the way the federal reserve operates now is money comes into the system via lower interest rates. money comes into the system via quantitative easing in the fed absorbs assets that are out on the financial market and puts it on a balance sheet inputs liquidity into the economy. the way the federal reserve does that, which they have the authority to do, is by assessing economic conditions, whether if they put too much money into the system through lower interest rates and quantitative easing, whether that could increase the speed by people -- by which people and firms are spending the money in the economy, which could raise inflation. on the first point of your question, it is not within the purview of the federal reserve to meet the u.s. government obligations on its debt. the treasury is the one that handles and issues de
be no purpose to the debt ceiling. it is important to note that when we talk about money printing, it is not necessarily the quantity of dollars. the way it operates now and it has been different but the way the federal reserve operates now is money comes into the system via lower interest rates. money comes into the system via quantitative easing in the fed absorbs assets that are out on the financial market and puts it on a balance sheet inputs liquidity into the economy. the way the federal...
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Dec 15, 2021
12/21
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while raising the debt ceiling does not create new debt. congress has raised the debt limit 79 times. 30 times with democrats in the white house and 49 times under a republican president. and and did so without drama. today's action should be no different. i urge my colleagues to continue paying our bills. i reserve the balance of my time. the speaker pro tempore: the gentleman from virginia reserves. the gentleman from texas is recognized. mr. brady: i yield myself such time as i may consume. in 2018 nancy pelosi, leader whip hoyer voted to default on the debt, shut down the government and refused to give relief to communities. republicans controlled the senate, house and the white house, responsibility rests on their shoulders. democrats control the house and senate and the white house and responsibility rests on their shoulders. democrats have known this day been coming for two years and did nothing. they passed no budget or appropriations bills and didn't spend a moment in bipartisan outreach to address the debt ceiling. we shouldn't ig
while raising the debt ceiling does not create new debt. congress has raised the debt limit 79 times. 30 times with democrats in the white house and 49 times under a republican president. and and did so without drama. today's action should be no different. i urge my colleagues to continue paying our bills. i reserve the balance of my time. the speaker pro tempore: the gentleman from virginia reserves. the gentleman from texas is recognized. mr. brady: i yield myself such time as i may consume....
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Sep 29, 2021
09/21
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suspending the debt ceiling when we already have $28 trillion in debt. some of my colleagues have even suggested we should abandon the debt limit all together. giving the federal government no safeguards to prevent ballooning debt and damaging the united states credit rating. families, farmers, businesses, and state and local governments have to live win their mean and make responsible financial decisions to be successful. the attitude in washington continues to pass on massive debt to future generations in exchange for our current lifestyle. we aren't looking at this debt crisis in a vacuum. we could be voting on $5.5 trillion in more spending soon if the speaker pelosi can pull together her caucus. suspending the debt ceiling while also proposing trillions in new spending is reckless. every american, adult and child, already bears a burden of about $85,000 each. raising the debt ceiling is about future spending. an unlimited debt ceiling until december of 2022 would result in a massive increase in spending by the democrats. the last debt ceiling increa
suspending the debt ceiling when we already have $28 trillion in debt. some of my colleagues have even suggested we should abandon the debt limit all together. giving the federal government no safeguards to prevent ballooning debt and damaging the united states credit rating. families, farmers, businesses, and state and local governments have to live win their mean and make responsible financial decisions to be successful. the attitude in washington continues to pass on massive debt to future...
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Aug 2, 2011
08/11
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to increase the debt ceiling. i argue, mr. speaker, that we don't have a debt ceiling problem, we have a debt problem. and that's why we're here today and that's why i believe that we, after months and months and months of partisan bickering, fingerpointing, we have at this moment begun a debate that will allow us in a bipartisan way to increase the debt ceiling, which we all know needs to be done, as simply as meeting the obligation of paying for past spending. many of us have been opponents of much of that spending but we recognize that the bill has to be paid. speaker boehner, when just days after we took the oath of office in 112th congress, received the request from the president of the united states through his treasury secretary, mr. geithner, that we increase the debt ceiling. mr. speaker said then that he will agree it's essential for us to increase the debt ceiling but we were not going to proceed with business as usual. we're not going to continue increasing the debt without getting to the root cause of
to increase the debt ceiling. i argue, mr. speaker, that we don't have a debt ceiling problem, we have a debt problem. and that's why we're here today and that's why i believe that we, after months and months and months of partisan bickering, fingerpointing, we have at this moment begun a debate that will allow us in a bipartisan way to increase the debt ceiling, which we all know needs to be done, as simply as meeting the obligation of paying for past spending. many of us have been opponents...
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Aug 6, 2017
08/17
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raising the debt ceiling isn't an argument about new spending. it is an argument about the fact that the credit card has come due. so those who politicized and attempt to use the debt ceiling as leverage, they make a huge miscalculation. and i can see a pass, as you have described it, for democrats to buy into raising the debt ceiling in a responsible manner and have republicans move away. so i think you have described the way i wanted. a room.t into let's negotiate and let's do what we used to do in congress, finding accommodations that people might not fall in love with but they can quickly come to like. host: talking about linking to big issues before congress. and if you see the possibility of linking tax reform to some sort of infrastructure spending legislation? is that see -- is that something you see in the works? interceptor spending used to be the easiest initiative there was a broad-based -- creating break creating greater initiative. it was something we all fundamentally agreed upon. sewer, it was water, highways, bridges and roadways
raising the debt ceiling isn't an argument about new spending. it is an argument about the fact that the credit card has come due. so those who politicized and attempt to use the debt ceiling as leverage, they make a huge miscalculation. and i can see a pass, as you have described it, for democrats to buy into raising the debt ceiling in a responsible manner and have republicans move away. so i think you have described the way i wanted. a room.t into let's negotiate and let's do what we used to...
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0.0
Nov 30, 2022
11/22
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host: let's remind people what the debt ceiling is. guest: the debt ceiling or debt limit, the fiscal cliff as we have heard of is the statutory limit the treasury department is up against to issue bonds to be able to pay our debt. congress passed a spending bill and through the appropriations process, and to be able to pay our bills on time, the treasury department needs to issue that. the reason we have to issue debt is because historically, we spend more than we bring in so to finance that, we need to borrow. the ability to borrow is a statutory authority the treasury department has but the amount the department is able to borrow is set by congress. it's called the power of the person it dates back to the early 20th century. it's this philosophy of how we ensure that the government is acting in the best interest of the taxpayer in a fiscally responsible manner. throughout history, we've seen after world wars were different spending priorities, the debt limit being raised were suspended many times throughout history on the republican
host: let's remind people what the debt ceiling is. guest: the debt ceiling or debt limit, the fiscal cliff as we have heard of is the statutory limit the treasury department is up against to issue bonds to be able to pay our debt. congress passed a spending bill and through the appropriations process, and to be able to pay our bills on time, the treasury department needs to issue that. the reason we have to issue debt is because historically, we spend more than we bring in so to finance that,...
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Jul 24, 2011
07/11
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the debt ceiling is created even though economists have said we have to deal with the debt ceiling. traditionally that has been done without taking hostages. doing it in a way that demonstrates to the world great stability. also, maintaining our superlative rating around the globe. this comes at a time when europe is struggling. we have seen states that have had problems. from greece to portugal, ireland as well this is a difficult time. you have the american people saying, essentially, what is this all about? why can they not get something done? why do they not act? in that context, we are suggesting that we do this in a balanced way. personally, i think that we should pass a clean debt ceiling and have at that. dealing with both of the debt and the issue of growing jobs to enhance revenues. grover norquist, i think, whether or not he misspoke, he tipped his hand to what we think is obvious. you should end the subsidies with respect to oil drilling when you have companies that essentially come forth and say they do not need the money. we are pretty flush ourselves. also, with regar
the debt ceiling is created even though economists have said we have to deal with the debt ceiling. traditionally that has been done without taking hostages. doing it in a way that demonstrates to the world great stability. also, maintaining our superlative rating around the globe. this comes at a time when europe is struggling. we have seen states that have had problems. from greece to portugal, ireland as well this is a difficult time. you have the american people saying, essentially, what is...
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Oct 7, 2013
10/13
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of the debt ceiling. it is our view, as i think both those officials stated this morning, that since the whole argument is to remove uncertainty, the uncertainty created by the threat of default, the threat of not raising the debt ceiling, that the longer you raise the debt ceiling or, the better, and we will -- the debt ceiling for, the better, and we will support a movement to raise the debt ceiling for year. that would certainly be viewed here is something we did support. but we don't get to make those determinations. what our position has always been was not raise it for a certain amount of time. it has been raise the debt ceiling without drama and delay. , ourver the duration position will not change, which is raise it so that the united states can continue to pay its bills and continue to ensure that the world knows we are good to our word and we fulfill our obligations, and when it comes up again, our position will still be, we will not negotiate over congress's responsibility is to pay the bills t
of the debt ceiling. it is our view, as i think both those officials stated this morning, that since the whole argument is to remove uncertainty, the uncertainty created by the threat of default, the threat of not raising the debt ceiling, that the longer you raise the debt ceiling or, the better, and we will -- the debt ceiling for, the better, and we will support a movement to raise the debt ceiling for year. that would certainly be viewed here is something we did support. but we don't get to...
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Aug 24, 2017
08/17
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the deficit, the debt and the debt ceiling. in 2002 and vice president cheney made a statement that the deficit doesn't matter. republicansems that are not concerned about the debt or the debt ceiling. just a couple days ago mitch mcconnell made the statement that there is zero chance, no chance we won't raise the debt ceiling. am i correct when i say the republicans don't care about the debt unless there's a democrat in the white house? i remember vice president cheney saying that and he is wrong. deficits and debt do matter. it is not existential to the economy immediately, but it's a corrosive upon the economy. higher deficits and the debt loads rely on higher interest rates which means less business investment and consumer spending on a smaller economy in the long run. so no he is not right. loadeficits and the debt matter a lot. i think there is well-intentioned and well-meaning lawmakers in both the republican and democratic party. obviously politics plays a role in everything. particularly in the current environment. i t
the deficit, the debt and the debt ceiling. in 2002 and vice president cheney made a statement that the deficit doesn't matter. republicansems that are not concerned about the debt or the debt ceiling. just a couple days ago mitch mcconnell made the statement that there is zero chance, no chance we won't raise the debt ceiling. am i correct when i say the republicans don't care about the debt unless there's a democrat in the white house? i remember vice president cheney saying that and he is...
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0.0
May 17, 2023
05/23
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-- in the debt ceiling talk. all work requirements do is limit the ability of food aid for families and hurt poor, marginalized community, the very people we were elected to defend. that's representative jayapal from her twitter feed. let's hear from jimmy in baltimore, maryland. democrats line. caller: a couple of the problems i have with this whole thing is, ok so the republicans passed a bill. i listened pretty carefully to, you know, different things that are happening in politics. i wish you guys would have somebody on to talk about the bill they passed and what are the specific, you know, cuts that they have in that bill. because i've heard general things. about that. so that's one thing. the other thing is, republicans raised the debt ceiling without a peep three times in four years under trump. so that's -- that right there, that's kind of like, what's with this that? then yesterday, i heard biden give a short little summary that, before his other speech, that the -- he said the republicans have already p
-- in the debt ceiling talk. all work requirements do is limit the ability of food aid for families and hurt poor, marginalized community, the very people we were elected to defend. that's representative jayapal from her twitter feed. let's hear from jimmy in baltimore, maryland. democrats line. caller: a couple of the problems i have with this whole thing is, ok so the republicans passed a bill. i listened pretty carefully to, you know, different things that are happening in politics. i wish...
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Oct 11, 2013
10/13
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there were 34 times in which the debt ceiling was raised. i want to achieve comprehensive reform but that does not mean i will shut down the government until i get what i want. it doesn't make sense as a way of doing business. we ask countries around the world to actively pursue fiscal and structural reforms because we think it is in our interest. we ultimately look at the cost of a default. how do we pursue those policies that promote economic opportunity at home? i think the harm of default will take a decade to recover from. it is an immediate drop in economic growth, the money that comes directly out of the taxpayers pockets. home values can very well plummet at a time in which they get recovery in the housing market. duden's loans and credit cards will become more expensive. it will seriously -- student loans and credit cards will become more expensive. going into retirement, they will get their college education decimated. i think about this, the u.s. dollar is the world's most important reserve currency. u.s. treasuries are a safe hav
there were 34 times in which the debt ceiling was raised. i want to achieve comprehensive reform but that does not mean i will shut down the government until i get what i want. it doesn't make sense as a way of doing business. we ask countries around the world to actively pursue fiscal and structural reforms because we think it is in our interest. we ultimately look at the cost of a default. how do we pursue those policies that promote economic opportunity at home? i think the harm of default...
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Jul 13, 2017
07/17
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congressmr of arizona here to talk about raising the debt ceiling. what is the debt limit? why is it important? guest: it's the part when authority of the federal government. we spend a lot more money than we take in. this year, the cbo just -- in today's society, we are more interested in tweets than actual math. this year, we will parts $693 billion -- we will borrow $693 billion. congress over the years has cap saying you have authority to borrow up to this point. when you hear the term extraordinary measures, the --asury is reaching into eventually, those funds are consumed. host: when will we not have any funds to dip into? guest: we keep doing different projections. some is sensitive to tax revenues. sensitive to certain dates. it is probably in early october, maybe even in september now. tax revenues are a bit below where we projected. some of that is the belief that some large taxpayers might be holding back with the hope of tax reform. host: if this needs to be addressed by mid-october, the treasury secretary has said congress should really raise the debt limit bef
congressmr of arizona here to talk about raising the debt ceiling. what is the debt limit? why is it important? guest: it's the part when authority of the federal government. we spend a lot more money than we take in. this year, the cbo just -- in today's society, we are more interested in tweets than actual math. this year, we will parts $693 billion -- we will borrow $693 billion. congress over the years has cap saying you have authority to borrow up to this point. when you hear the term...
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Nov 28, 2017
11/17
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we're fast approaching yet another debt ceiling. the debt ceiling has been in existence since 1941, 70 years. every time very little has been done to rein in spending as a result. it was supposed to serve as a warning so we pause and considering the risk of borrowing more money. 70 times we have effectively blown past through it. we can't increase our borrowing capacity every time we hit the debt ceiling without some countervailing action to address our deficit and debt. at what point is enough is enough? how far do bewant to put our children and grandchildren in the debt hole before we decide it's a moral obligation? and this is truly a looming crisis. as congress works on our spending package that's here on the immediate horizon, it's important we also introduce structural spending reforms. we need to have a balanced budget, for heaven's sakes. we need to move some of the mandatory over to discretionary. we need to set targets for reducing our debt. if we don't meet those targets because we don't have the courage to do it, then it
we're fast approaching yet another debt ceiling. the debt ceiling has been in existence since 1941, 70 years. every time very little has been done to rein in spending as a result. it was supposed to serve as a warning so we pause and considering the risk of borrowing more money. 70 times we have effectively blown past through it. we can't increase our borrowing capacity every time we hit the debt ceiling without some countervailing action to address our deficit and debt. at what point is enough...
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127
Apr 25, 2011
04/11
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they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if in fact the policy makers have not addressed our deficit problems and the debt load is not moving in the right direction. it is not determining exactly how we're going to address our fiscal problem, but it lays out the goals we're going to try to achieve. if we do not achieve those goals, then we have this mechanism in place. i think it policymakers can agree to something like that, the natural progress, that would be helpful and something good will come out of the state -- out of this breed policymakers have to raise the debt limit unre
they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if...
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Dec 18, 2013
12/13
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all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in february when the treasury runs out of money to pay its bills. on the two-your budget deal, the washington times reports this -- there are a group of senators think it aired i daring cuts to retirement pay. post" reportsn on that -- inside the story they say according to house budget aides, it will reduce pay by almost six percent, by a man who enlisted at age 18 and retired age 38. 1.26ng him with one million instead of 1.24. this an issue that could be returned to in january. (this morning. democratic caller. what is on your mind. they did
all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in...
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May 9, 2023
05/23
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debt ceilings have carried other measures. what we have here is we are running out of time and time for the president to gept serious and sit down with the speaker. [indiscernible chatter] the speaker: we want to say we should spend next year what we spent five months ago. they said draconian. what we spent five months ago is more than how much president biden and they proposed to spend this time. people were being hurt. people not getting veteran care and people not getting what they asked for five months ago. is that too much? we can raise the debt limit and spend what we did five months ago and pull back that covid money and put work requirements that help the supply chain and get promoted and more jobs and make us energy independent so americans have a lower cost in their energy bills. if they have a better idea, i'm sitting here for the last 97 days, tell me what it is. reporter: did you address the argument from the administration saying that house republicans want to cut veterans' benefits? and are you confident that if
debt ceilings have carried other measures. what we have here is we are running out of time and time for the president to gept serious and sit down with the speaker. [indiscernible chatter] the speaker: we want to say we should spend next year what we spent five months ago. they said draconian. what we spent five months ago is more than how much president biden and they proposed to spend this time. people were being hurt. people not getting veteran care and people not getting what they asked for...
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Apr 24, 2023
04/23
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on the debt ceiling i think, it should be stopped, playing politics with the debt ceiling. the bills were created last year. the debt ceiling is always raised, regardless of who is in office because we have to pay our bills. we have to show the world that our economy is strong and reliable. mccarthy is playing games trying to make the republicans look like they are getting something done. the cuts he is proposing her to the irs. we have boomer babies retiring that need to be replaced. he wants to cut medicaid, medicare, food programs. everything he is cutting, but i did not hear him say " let's raise taxes on the 1% and corporations that we gave texas to every time we have a republican in office -- taxes to every time we have a republican in congress." guest 2: the debt ceiling is about future spending. it is about spending that has not happened yet. that debt ceiling increase allows the government to spend more money. i meanst it is necessarily taking that purchasing power -- it means it is necessarily taking that purchase power away from americans. what does it mean for t
on the debt ceiling i think, it should be stopped, playing politics with the debt ceiling. the bills were created last year. the debt ceiling is always raised, regardless of who is in office because we have to pay our bills. we have to show the world that our economy is strong and reliable. mccarthy is playing games trying to make the republicans look like they are getting something done. the cuts he is proposing her to the irs. we have boomer babies retiring that need to be replaced. he wants...
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May 15, 2023
05/23
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about what they will do on this debt ceiling. mcconnell has said that he doesn't feel they need to go into the situation like that had before and with the debt ceiling. i wonder if you've heard anything about whether mccarthy is real close to mcconnell and what would happen and do you think mcconnell has the upper hand on the debt ceiling? guest: their relationship is interesting. we have seen mitch mcconnell backing up mccarthy and he and other senate republicans have said they support reforms and budget cuts. what happens when this gets down to the line if there is an agreement and does mcconnell try to huddle with joe biden. the two of them have had a tricky relationship. there is not of daylight between mcconnell and mccarthy right now. host: pennsylvania, good morning. line for democrats. caller: good morning, everyone. i'm just calling about title 42. basically, that was in response to the pandemic and people coming over. basically what we should be talking about is removing sanctions and all these countries including venez
about what they will do on this debt ceiling. mcconnell has said that he doesn't feel they need to go into the situation like that had before and with the debt ceiling. i wonder if you've heard anything about whether mccarthy is real close to mcconnell and what would happen and do you think mcconnell has the upper hand on the debt ceiling? guest: their relationship is interesting. we have seen mitch mcconnell backing up mccarthy and he and other senate republicans have said they support reforms...
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Oct 7, 2017
10/17
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when you have to increase the debt ceiling. if we end up having a tax reform ,ill that increases the debt the people who support that bill should have to vote to increase the debt ceiling than because that is when we are entering into those commitments. a breakthere should be the glass option. the president or the leadership should have the option to raise the debt ceiling if congress does not go along with them. there should be automatic savings that go along with that. let's reform it, let's not get rid of any constraint, because right now there are a lot of economic challenges we have. continuing to borrow indiscriminately so that the growth of the debt is higher than the economy is not a recipe for success and i would like to see limits on that. caller: one last call from georgia, an independent. i would ask the guest where she balls on the living wage debate. the government subsidizes walmart because walmart does not want to pay minimum wage which raises all of our taxes. guest: i do not have a strong position because i th
when you have to increase the debt ceiling. if we end up having a tax reform ,ill that increases the debt the people who support that bill should have to vote to increase the debt ceiling than because that is when we are entering into those commitments. a breakthere should be the glass option. the president or the leadership should have the option to raise the debt ceiling if congress does not go along with them. there should be automatic savings that go along with that. let's reform it, let's...
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0.0
Jan 11, 2023
01/23
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but i also think it's a noteworthy as we get to what eventually will be a vote on the debt ceiling. it certainly put in front of the american people. they voted for the cares act. they voted for more money for national defense spending. some of them voted for the infrastructure bill. and then they also voted for r $5 trillion worth of tax cuts in 201, 203 and 2017. it's about 4.7 tons of tax cuts and it allows them in this instance after what they have done sort of set the fire and then call the fire department. so it's been kind of the recklessness that they've embraced in this fiscal debate and discussion which is going to bring us to the precipice because it will allow us to have a full throttle debate over the role of social social sed medicare in our lives. i'm looking forward to that. it's really important to remember, as i just described it, where the tax cuts were, where the spending increases came from, and then how we intend to defend social security and medicare and do the responsible thing and raise the debt ceiling. the debt ceiling shouldn't be held hostage to this sor
but i also think it's a noteworthy as we get to what eventually will be a vote on the debt ceiling. it certainly put in front of the american people. they voted for the cares act. they voted for more money for national defense spending. some of them voted for the infrastructure bill. and then they also voted for r $5 trillion worth of tax cuts in 201, 203 and 2017. it's about 4.7 tons of tax cuts and it allows them in this instance after what they have done sort of set the fire and then call...
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Aug 23, 2017
08/17
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the deficit and the debt ceiling. oh well. in 2002 when vice president dick cheney made the statement that the deficit doesn't matter. it really seems republicans are not concerned about the debt or debt ceiling. ago, throughays the a statement that there is zero chance we won't raise the debt ceiling. with vice president cheney correct? am i correct when i say the republicans don't care about the debt unless there is a democrat in the white house? gue i rememberst vice president cheney saying that, and he is wrong:. deficit and debt do matter. it is not existential to the economy and, but it is corrosive on the economy. higher deficit and debt results in higher interest rates. those higher interest rates in less business investment, less compete -- consumer spending and the long run. no, he is not right. downloadits in the matter a lot. -- and the debt load matter a lot. i know well intentioned lawmakers on both -- in both parties. a role inlays everything, but there are many republicans who believe there are deficits that do
the deficit and the debt ceiling. oh well. in 2002 when vice president dick cheney made the statement that the deficit doesn't matter. it really seems republicans are not concerned about the debt or debt ceiling. ago, throughays the a statement that there is zero chance we won't raise the debt ceiling. with vice president cheney correct? am i correct when i say the republicans don't care about the debt unless there is a democrat in the white house? gue i rememberst vice president cheney saying...
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0.0
May 17, 2023
05/23
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he voted against raising the debt ceiling when george w. bush was president because of the spending. i don't think that is a fair assessment, frankly. i think nancy pelosi had reservations about raising the debt ceiling while donald trump was president. she wanted a negotiation, they negotiated over some stuff. the bottom line is this, most spending reforms have been tied to the debt ceiling over many years. it is a lever of power congress has had to really rein in the executive branch. under this administration, they have increased spending by over $5 trillion in two years. that is unsustainable. we have to look at this holistically. as i said earlier, both parties have been at fault when it comes to spending excessively. but joe biden is president right now. republicans in the house were elected to serve as a check and balance on the biden administration. i, for one, ran on raining in the reckless spending that occurred over the last two years. this is a function of the american people recognizing the need for balance and a more commonsen
he voted against raising the debt ceiling when george w. bush was president because of the spending. i don't think that is a fair assessment, frankly. i think nancy pelosi had reservations about raising the debt ceiling while donald trump was president. she wanted a negotiation, they negotiated over some stuff. the bottom line is this, most spending reforms have been tied to the debt ceiling over many years. it is a lever of power congress has had to really rein in the executive branch. under...
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0.0
Jan 10, 2023
01/23
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i would also say, as chairman neal did, the debt ceiling should not ever be something we play around with. it is too dangerous. this country has been able to get through and weather government shutdowns. we would not be able to weather a compromise on the full faith and credit of the united states. it would cripple not only the u.s. economy but the world economy. this caucus has the responsible position not to play politics with this. the other side has been threatening repeatedly as recently as last night to refuse to raise the debt ceiling because they are so hell-bent on cutting social security, medicare and medicaid. we won't let them get away with it. and now it's my pleasure to bring back our chairman, pete aguilar. mr. aguilar: thanks, brendan. questions? reporter: -- [indiscernible] -- before the midterms? mr. aguilar: let's step back and talk about this for a minute. because -- and i appreciate the question. this is republicanpy pok are a -- republican hypocrisy at its finest. when the former president had 320 documents found in his personal residence they said that, quote,
i would also say, as chairman neal did, the debt ceiling should not ever be something we play around with. it is too dangerous. this country has been able to get through and weather government shutdowns. we would not be able to weather a compromise on the full faith and credit of the united states. it would cripple not only the u.s. economy but the world economy. this caucus has the responsible position not to play politics with this. the other side has been threatening repeatedly as recently...
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0.0
Apr 22, 2023
04/23
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ceiling. he's giving america's debt the southern border treatment. ignore it and hope that it goes away. in fact, he's been avoiding the issue for 77 straight days and counting. senator schumer, he's just missing in action. rather than find common ground with the house, senator schumer's having the senate vote on a nonbinding resolution commending and congratulating the university of connecticut men's basketball team for winning the 2023 men's basketball championship. that's not all senator schumer's been doing. just last month he's approved march is maine's maple syrup month. talk about taking on big issues. i wonder what may's month will be about. president biden and senate democrats waste time, house republicans are taking action. today i'm proud to announce that we are introducing the limit, save, grow act of 2023. this responsible legislation will be led by our budget chairman, jodey arrington. would responsibly raise the debt limit into next year and provide more than $4.5 trillion in sa
ceiling. he's giving america's debt the southern border treatment. ignore it and hope that it goes away. in fact, he's been avoiding the issue for 77 straight days and counting. senator schumer, he's just missing in action. rather than find common ground with the house, senator schumer's having the senate vote on a nonbinding resolution commending and congratulating the university of connecticut men's basketball team for winning the 2023 men's basketball championship. that's not all senator...
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4.0
Oct 13, 2021
10/21
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raising the debt ceiling doesn't incur new debts. it simply allows the treasury department to pay the debts already incurd. any debt subject to the current increase was passed before president biden took office. the dig bereavers were the cares act programs we all supported, higher defense spending under the previous president and enormous republican tax cuts that were not paid for which mostly went to the wealthy. congress has raised the debt ceiling 78 time, mostly when a republican was in the white house. mr. speaker, this has always been a bipartisan vote. in 2017, when donald trump was president, more than 90% of the democrats voted to increase the debt limit. in 2019, when donald trump was president, more than 90% of the democrats voted to increase the debt limit. it should be a bipartisan vote now. the simple fact is if it wasn't, congress fails to raise the debt ceiling, it would mean we refuse to pay our debts and would lead to destruction. i'm confused too one way this is very asymmetric. we help the republican presidents b
raising the debt ceiling doesn't incur new debts. it simply allows the treasury department to pay the debts already incurd. any debt subject to the current increase was passed before president biden took office. the dig bereavers were the cares act programs we all supported, higher defense spending under the previous president and enormous republican tax cuts that were not paid for which mostly went to the wealthy. congress has raised the debt ceiling 78 time, mostly when a republican was in...
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Jan 15, 2013
01/13
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eye 74
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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114
Jul 3, 2011
07/11
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eye 114
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ceiling -- until we talk about the debt ceiling. we will present our own proposal next week. that is to raise the debt ceiling. we will vote in favor of law raising the debt ceiling next week if we can. it will be contingent upon passing a balanced budget amendment to the constitution. american people don't want us to raise the debt ceiling and keep doing what we have been doing. only 40% of american voters approve of what we were doing but it has been a disaster. i am not completely without the sense that we may need to raise the debt ceiling. i will only do if we have significant budgetary reform and that means you have to balance her budget every year. >> there has been mention of the tea party caucus. what are your thoughts on how tea party groups are influencing the way congress operates? there is a lot of belief in uniformity but i am curious how you think they are affecting congress. >> the one uniform proposal comes out of the tea party which is in universal agreement is that the number 1 concerns of the country and for our
ceiling -- until we talk about the debt ceiling. we will present our own proposal next week. that is to raise the debt ceiling. we will vote in favor of law raising the debt ceiling next week if we can. it will be contingent upon passing a balanced budget amendment to the constitution. american people don't want us to raise the debt ceiling and keep doing what we have been doing. only 40% of american voters approve of what we were doing but it has been a disaster. i am not completely without...